K2 Energy Limited is an Australian publicly listed company listed on the Australian Stock Exchange. ( ASX Code “KTE”)
The company is engaged in oil and gas exploration and production in the United States and has established oil and gas production from multiple wells located in Texas and Oklahoma. K2 Energy’s primary focus in onshore conventional and unconventional oil and gas exploration and production from targets generated by 3D seismic data on its Bad Creek project in Oklahoma. The company also has other project areas in Texas and elsewhere in the US.
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The company’s Oklahoma leases in its Bad Creek Project area are located in the Arkoma Basin in the prolific Woodford and Caney Shale gas plays. The Bad Creek project has significant potential for unconventional shale gas production and the potential gas resource on its leases has been independently estimated at up to 81 BCF of gas net to K2 Energy. The company is will be drilling 3 horizontal wells in 2008 to test the potential of this resource.
The primary objective and focus of K2 Energy is to continue to develop the conventional unconventional oil and gas resources so far identified at Bad Creek in Oklahoma and to aggressively drill the 20 additional 3D seismic generated targets identified in the project with a view to building reserves and continuing to grow cash flow from production |